Pal Zileri aims to relaunch production. Forall Confezioni, which owns the brand, (and is controlled by the Qatari fund Mayhoola, the same as Valentino and Balmain) has announced that it has started an industrial partnership with a Vicenza-based operator. It is Nicola Ferraretto’s clothing company J6, and the aim is to relaunch production at the Quinto Vicentino factory, and avoid possible redundancies. “Fundamental is the synergy with the territory in order not to lose know-how,” comments Massimiliano Tintinelli, chief restructuring officer and board member of Forall.
Relaunching production
Forall has closed two deals. The first, is the signing of an employment transition agreement with the Veneto Region, Confindustria Vicenza and the trade unions, which envisages the opening of a new extraordinary redundancy fund for a maximum of 12 months. This is aimed at facilitating the re-launch of the Quinto Vicentino factory (113 employees in the production department). In practice, the one for which a collective redundancy procedure is open. Now, only a yes from the Ministry of Labour and Social Policies is awaited.
A partner from Vicenza
The second operation concerns the negotiations, at an advanced stage, with Nicola Ferraretto’s company J6, which has shown its willingness to take over the Quinto production branch. Forall would guarantee J6 the production of outerwear through a three-year exclusive contract. With these two transactions, Massimiliano Tintinelli (left, in the photo) is aiming to keep most of the employees’ jobs. “We are negotiating with J6, which has presented its ambitious programme to the region and interested parties,” Tintinelli emphasises. “We have mutual interests in production, as J6 is a supplier for top luxury brands. And the prospect of being able to manufacture our products with the same structure and the same people is certainly interesting. This way, all the know-how is not dispersed, which would otherwise be pulverised,” Tintinelli concludes.
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